Novak Biddle Venture Partners is looking to raise less than $150 million for its sixth fund, an amount less than two thirds the size of its prior fund, according to VentureWire.

From VentureWire:

Novak Biddle General Partner Prashanth "PV" Boccasam said there's "too much money skewing the venture model," creating "over-hyped, over-funded venture start-ups" at a time when start-ups need less money than ever to prosper. "Smaller funds will have much better returns. It's the best way to invest” …